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Bair: ‘Too much is made’ of bank chair, CEO debate
By Adam Samson (original source Yahoo Finance)
A former chief of the Federal Deposit Insurance Corporation says too much emphasis is put on the debate over whether bank chief executives should also be board chairs.
Sheila Bair, who in August became the president of Washington College, tells Yahoo Finance “too much is made of separating these roles,” adding, “it’s really more about the people and whether they are competent and setting the right tone and culture.”
Bair, who led the FDIC through the worst financial crisis since the Great Depression, also notes that in some cases, you could have a “dominant CEO and a weak chair,” which could actually make the situation worse, “as it obfuscates CEO accountability.”
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